Hi all,
After hitting all times highs just few days ago - today index tried to move even higher but after meeting strong resistance recently retreated around 10 USD.
(image captured from www.bloomberg.com)
In my previous blogs I discussed on some similarities between cryptocurrencies and indexes price actions. Actually drop in cryptocurrencies which started at the end of next week didn't reflect directly to USA500.IDX as at the start of this week index opened near it's closure point at the end of last week.
But based on today price action of USA500.IDX index it seems that upward move of indexes might have been exhausted at the time being. And as there were no immediate correlation such correlation might occur with some latency. But lets wait for few more days and I think we will have a clearer picture.
So lets see how things will develop further...
Best regards,
rokasltu